940 Preparation report
unavailable in ajeraCore unless you have the Payroll add-on
Use Part I of this report to review federal information to report on
Form 940
, Employer's Annual Federal Unemployment (FUTA) Tax Return. Use
Part II to review state information to report.
Audience
Accounting
CPA
Producing the report
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Option |
Description |
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Company |
Multi-company only. The report contains information for all companies in your organization, unless you select a specific company in this field. |
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Period |
The report contains information for the current year, unless you select a different time period in this field. |
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Option |
Description |
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Report title |
You can change the title of the report. |
Report contents
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Column |
Description |
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940 Preparation Part I - Compensation only: |
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Gross Wage |
The amount of the employee's pay before any taxes or deductions |
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Exempt Wage |
Payments exempt from federal unemployment tax |
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Over 7000 |
The total of payments made to each employee in excess of $7,000. Only the first $7,000 you paid to each employee in a calendar year is subject to FUTA tax. |
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Total Exempt |
The amount of payments exempt from FUTA tax |
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Taxable Wage |
The amount of pay that is taxed for the year-to-date |
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940 Preparation Part II: |
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State |
The state |
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State ID |
State ID from the state unemployment tax |
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YTD SUI Subject-To |
The total pay subject to tax year-to-date, based on the wage limit for the tax |
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SUI Rate |
The rate paid for state unemployment insurance |
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Contribution if @5.4% |
The amount to contribute to FUTA tax using a rate of 5.4% |
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Contribution @ Expected Rate |
The amount withheld based on the rate setup for the tax |
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Additional Credit |
The amount of additional credits, which is a contribution at 5.4% less the contribution at the expected rate |
